Hancock Holding Company Becomes Accredited Provider of AFP Service Codes™ Standard demonstrates high level of transparency for corporate banking partners
BETHESDA, Md., March 26, 2014 /PRNewswire/ -- The Association for Financial Professionals (AFP) today announced that Hancock Holding Company has become an accredited provider of the AFP Service Codes™ ––the standard that corporate treasury departments use for comparing bank services.
The codes give companies over 1,000 identifiers for a wide range of banking services. Global corporations use the codes to track bank services and to organize, rationalize, and automate their monthly review of account analysis (billing) statements.
AFP recently updated the codes to include 247 identifiers for banking services that have become more widely adopted in recent years in addition to revisions to over 443 existing codes.
By displaying the AFP codes in corporate account statements, accredited banks demonstrate to their corporate banking partners that they are following the highest global standard of fee reporting and enhanced customer service.
"Corporate treasury staff are resource-constrained and must produce statement analyses in quickly," said Tom Hunt, AFP's director of treasury services. "By becoming an accredited provider, Hancock Holding Company clearly supports fee transparency and simplification of processes so that treasury teams can devote more time to managing their cash positions."
We are pleased that we are among only a few banks nationwide that have the ability to offer our clients this valuable service," said Kerrie Duvernay, Treasury Products and Services Manager for Hancock Bank and Whitney Bank. "It is an example of our ongoing commitment to providing new services to our business customers that can be used to streamline processes and perform treasury functions efficiently and effectively."
To become accredited, banks submit their service codes for review by AFP and demonstrate compliance with the standard. Once approved, they receive support from AFP in implementing the codes, reconciling discrepancies, and handling service fee anomalies created by bank mergers or other events.
AFP Service Codes™ is a trademark of the Association for Financial Professionals. For more information about bank accreditation, see www.afponline.org/servicecodes or contact Tom Hunt at 301.907.2862 or firstname.lastname@example.org
ABOUT HANCOCK HOLDING COMPANY
Helping create opportunities for consumers, businesses, and communities across a five-state Gulf South footprint, Hancock Holding Company (Nasdaq: HBHC) operates Hancock Bank in Mississippi, Alabama, and Florida and Whitney Bank in Louisiana and Texas. The company's comprehensive regional network of financial services includes traditional and online banking; commercial and energy banking; small business banking; trust and investments; corporate trust services; insurance; private banking; and mortgage services. Both founded more than a century ago to help people achieve their financial goals and dreams, Hancock Bank and Whitney Bank consistently rank among America's strongest, safest financial institutions, according to BauerFinancial, Inc. More information and online banking services are available at www.hancockbank.com or www.whitneybank.com.
ABOUT AFP® (www.afponline.org)
Headquartered outside Washington, D.C., the Association for Financial Professionals (AFP) is the professional society that represents finance executives globally. AFP established and administers the Certified Treasury Professional and Certified Corporate FP&A Professional credentials, which set standards of excellence in finance. The quarterly AFP Corporate Cash Indicators serve as a bellwether of economic growth. The AFP Annual Conference is the largest networking event for corporate finance professionals in the world.
AFP, Association for Financial Professionals, Certified Treasury Professional, and Certified Corporate Financial Planning & Analysis Professional are registered trademarks of the Association for Financial Professionals.© 2013 Association for Financial Professionals, Inc. All Rights Reserved.
SOURCE Association for Financial Professionals